Sold House Prices Scotland: Analyzing Property Trends
Jul 26, 2024
“Analyzing the average sold prices of residential properties in Scotland to understand the property market”
Latest trends and market reports indicate a rise in housing prices in Scotland with different properties sold for different average prices. Ranging from detached, semi-detached, terraced, and flats to others, the country is recording sales of different categories of properties. The average sold price of a house in Scotland is £188,000 (source: Office for the National Statistics) whereas, the average property price in Scotland is around £190,000. Through this blog post, you will be informed about the latest sold house prices, trends, and prospects for the housing market in Scotland. Continue Reading
Data on Average Price Change by Property Type for Scotland
The latest figures on the housing price index show an annual change of 4.8% in average prices of properties. Different types of residential properties record a different rate of growth in Scotland. Refer to the table below, to check the average price change by property type.
| Property type | January 2024 | January 2023 | Difference |
|---|---|---|---|
| Detached | £343,266 | £321,771 | 6.7% |
| Semi-detached | £204,717 | £192,037 | 6.6% |
| Terraced | £160,698 | £152,434 | 5.4% |
| Flat or maisonette | £130,258 | £126,874 | 2.7% |
| All | £190,328 | £181,612 | 4.8% |
Average Sold Price for Different House Types
Data shared by the "Registers of Scotland" under the property market report (2023) reveals that among all house types, the detached house yielded the highest sold prices. The average sold price for detached houses is around £330,917 and shares around 29% of the residential sales market. The detached sold prices are followed by the fats with an average sold price of £158,241 and shares around 27% of total sales to the residential sales market of Scotland.
Urban and Rular Classification in Residential Property Sales
In Scotland, the highest number of residential property sales is recorded in urban areas making around 80% of the total residential property sales. The rural areas record around 20% of sales for residential properties and the average price for residential properties in urban areas of Scotland is around £202,588 compared with £271,436 in rural areas. In urban areas, more sales are being closed in cities as the trend shows around 31% of all residential properties sold in Scotland are located in the eight cities of the country.
Rents are Up in Scotland
Apart from high housing prices and growth in sold house prices, Scotland is an ideal place to invest in rental properties. Rents are up in the country and investment in a buy-to-let property can provide you a good income. You can navigate to "Estate Agent Power" to buy a residential property anywhere in the world for buy-to-rent purposes.
To Conclude, Scotland's property market is positively growing and house sales are yielding a decent amount as indicated by the latest reports on the sold house price index. Different types of residential properties are being sold for different prices and urban areas are witnessing more sales compared to rural areas. Investors have an ideal option to invest in buy-to-rent property in Scotland with Estate Agent Power available to help you in the buying and selling process.
Trusted By
Come home to your dream property with Estate Agent Power (EAP)
EAP is an all-in-one real estate website that allows you to buy and sell your property worldwide. We live in a global world today, and we believe that everyone should have the power of buying property anywhere in the world, no matter where they are.
Learn MorePost your properties on Estate Agent Power free of charge.
Get maximum leads from genuine buyers.
